18 September 2015

NIFTY OUTLOOK & FREE NIFTY FUTURE TIPS FOR 21 SEP 2015

DAILY RESISTANCE FOR NIFTY: 8029, 8095, 8199, 8303
PIVOT POINT: 7991
DAILY SUPPORT FOR NIFTY :  7925, 7887, 7783,7679
 The market extended previous trading session's rally further on Friday, taking the Nifty above 8000 intraday after the Federal Reserve postponed its plans of rate hike in nearly a decade. However, profit booking in last hour of trade wiped out half of gains and dragged benchmark Nifty below the psychological level post sell-off in European markets. The Sensex rallied 254 points or 0.98 percent to 26218 and the NSE Nifty climbed 82 points or 1.05 percent to 7963, The US Federal Reserve left key policy rates unchanged for the 55th straight FOMC meet bowing to worries about the global economy, financial market volatility and sluggish inflation at home. The US markets were mixed overnight post the US Federal Reserve's decision. The Dow Jones Industrial Average fell 65.21 points, or 0.39 per cent while the S&P 500 lost 5 points, or 0.26 per cent. The Nasdaq Composite added 4.71 points, or 0.1 per cent.
A close below 7970 and 7852 support has again signaled weakness but having closed above 7900, the bulls still have hope. 8095 remains the important resistance which must be decisively crossed for fresh momentum. 8029-8095 zone is an important hurdle which must be decisively crossed for any meaningful rally from here. 7900-7850 is an important demand zone and a decisive breach of 7887 at this juncture will signal weakness. 

No comments:

Post a Comment